Mariano County Traded in a Used Pickup for a New

question 56

Multiple Choice

Mariano County traded in a used pickup for a new pickup truck with a sticker price of $44,000. The old pickup had a fair value of $26,000, historical cost of $45,000, and accumulated depreciation of $18,000. The dealer took the old truck and $15,000 for the new truck.
-The amount of gain or loss that should be recognized on this transaction in the general fund financial statements is:

• A) $0.
• B) $1,000 loss.
• C) $4,000 gain.
• D) $15,000 loss.

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Definitions:

Stage 2 Sleep

A phase of sleep characterized by specific brain wave activity, including sleep spindles and K complexes, representing a deeper sleep than Stage 1.

EEG Record

A recording of the electrical activity of the brain obtained through electrodes placed on the scalp, used in the diagnosis of neurological conditions and the study of brain functions.

REM Rebound

The phenomenon where an individual experiences increased REM sleep following REM sleep deprivation, often resulting in more vivid dreams.

Narcolepsy

An incurable sleep disorder characterized by excessive daytime sleepiness and uncontrollable attacks of REM sleep.